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Palladium News

Create platinum exchange to stabilise sector – Abedian 

By: Martin Creamer     19th June 2012 Stability can be brought to South Africa’s beleaguered platinum-mining industry by creating a platinum exchange similar to Canada’s successful producer-led potash marketing arm, says Pan-African Capital CE Dr Iraj Abedian. Abedian, who addressed the Mining for Change 2012 seminar in Johannesburg... 

Govt, business, labour combine to aid platinum sector

By: Martin Creamer     18th June 2012 Government, business and organised labour have joined forces to aid South Africa’s beleaguered platinum industry, which is beset by low prices, high costs and serious potential job losses. The move is reflective of the new spirit of collaboration embodied in the Mining Industry Growth and... 

Russian group’s Southern African operations deliver up-and-down production volumes

By: Keith Campbell     15th June 2012 World number one nickel and palladium producer MMC Norilsk Nickel (Norilsk) has revealed substantial increases in the physical volumes of metals sold by its Nkomati Nickel joint venture (JV) in South Africa and significant decreases in the volumes from its Tati Nickel operation in Botswana,... 

Commodity prices in ‘no man's land’ – Barclays 

By: Natasha Odendaal     13th June 2012 Commodity prices were currently situated in “no man’s land” with the prices not yet low enough to reflect near recessionary conditions, while being too low for producers to continue growth, said Barclays research MD Kevin Norrish on Wednesday. Much volatility was being seen in the commodities... 

Noront defers Eagle’s Nest feasibility results

By: Henry Lazenby     28th May 2012 TSX V-listed Noront Resources on Monday said it would delay the release of a feasibility study of its Eagle’s Nest deposit after competitor Cliffs Natural Resources announced it would proceed with such an assessment at its nearby property, as well as build a road to it. Noront is focused on... 

Sea change in labour dynamics as AMCU emerges – Lonmin

By: Martin Creamer     14th May 2012 Labour dynamics are going through a sea change with the emergence of the Association of Mineworkers and Construction Union (AMCU) to rival the dominance of National Union of Mineworkers (NUM), says Lonmin CEO Ian Farmer. Farmer, who heads South Africa’s third-largest platinum-mining company,... 

Johnson Matthey sees platinum at $1 600/oz, oversupply forecast

By: Natasha Odendaal     14th May 2012 The platinum market’s forecast surplus in 2012 was likely to result in the prices remaining steady between $1 450/oz and $1 750/oz – averaging at $1 600/oz – during the next six months, said platinum researcher Johnson Matthey on Monday. In its latest ‘Platinum 2012’ report, Johnson Matthey... 

NAP narrows Q1 loss on better production and prices

By: Matthew Hill     11th May 2012 North American Palladium, which mines the precious metal near Thunder Bay, Ontario, on Thursday posted a $0.9-million, or $0.01, a share loss for the first quarter, an improvement of the $10.3-million it was in the red for during the same period last year. Output that was 36% at 41 760 oz... 

Implats, Northern Shield formalise QC platinum JV

By: Matthew Hill     7th May 2012 Canadian junior Northern Shield on Friday said it firmed up a joint venture agreement with world number-two platinum producer Impala Platinum over the TSX-V-listed company’s Idefix property in northern Quebec. The partners had in January inked a letter of intent that would see the South African... 

Platinum demand game changer needed to balance market

By: Idéle Esterhuizen     4th May 2012 A game-changing shift in demand would be required to alleviate the global platinum surplus, which stood at 735 000 oz last year, precious metals consultancy Thomson Reuters GMFS global head of precious metals Paul Walker said this week. “My fear is that we are entering a period of structural... 

Platinum to remain in surplus, eurozone crisis flagged as 'major' risk

By: Idéle Esterhuizen     3rd May 2012 Platinum registered its seventh consecutive gross surplus in 2011 and was likely to experience a similar outcome in 2012, while palladium remained in a gross deficit, which was likely to increase this year, precious metals consultancy Thomson Reuters GFMS reported on Thursday. In the ninth... 

Stillwater reports huge Q1 profit drop

By: Matthew Hill     26th April 2012 Billings, Montana-based Stillwater Mining said on Thursday first-quarter profit plunged 93% to $2.4-million, dragged down by exploration expenses on a copper property the palladium producer bought last year, as well as higher production costs. The TSX- and NYSE-listed company said revenues grew... 

Noront enters into C$10m private placement with RCF V

By: Henry Lazenby     25th April 2012 Mining junior Noront Resouces on Tuesday said it had entered into a C$10-million private placement with Resource Capital Fund V (RCF V) to advance development of its flagship Eagle’s Nest nickel/copper/platinum/palladium project in north-western Ontario’s ‘Ring of Fire’ district. RCF V had... 

NAP to raise C$35m for Ontario palladium mine

By: Henry Lazenby     12th April 2012 Precious metals producer North American Palladium (NAP) on Wednesday said it had entered into an agreement with a syndicate of underwriters co-led by Scotia Capital and RBC Capital Markets to raise C$35.03-million, by selling 11.3-million flow-through shares at C$3.10 apiece. The proceeds from... 

NAP boosts Q1 palladium production by 36%

By: Matthew Hill     10th April 2012 North American Palladium, the continent’s second-biggest producer of the metal used in vehicle exhaust systems, said on Tuesday it mined 41 760 oz in the first quarter, at a cash cost of $380/oz. CEO William Biggar said the performance of the company’s sole producing mine, Lac des Iles, located... 

New process opens way for full-spectrum platinum beneficiation 

By: Martin Creamer     5th April 2012 The Kell Process, which slashes electricity consumption by eliminating the power-guzzling smelting step in the processing of platinum-group metals (PGMs), also opens the way for full-spectrum platinum beneficiation, including the facilitation of fuel cell and autocatalytic converter manufacture.... 

SA govt grants PTM mining right

By: Matthew Hill     5th April 2012 Canada’s Platinum Group Metals (PTM) has received a mining right from the South African government for its flagship project in the country, the TSX- and Amex-listed company said on Wednesday. PTM also said it would finalise by the end of the second quarter the $260-million senior loan facility... 

Gilbertson ‘very, very bullish’ on platinum-group metals  

By: Martin Creamer     2nd April 2012 Mining industry doyen Brian Gilbertson, who has been involved in several landmark industry-making investments, foresees South Africa’s platinum endowment as providing the potential for yet another industry-making surge. Besides the outlook of growing demand and struggling supply, there is a... 

Mitsubishi buys 25% of Marathon PGM project

By: Matthew Hill     28th March 2012 Billings, Montana-based palladium and platinum producer Stillwater Mining has agreed to sell a 25% stake in its Marathon project in Ontario to Mitsubishi for $94.6-million, including a commitment from the Japanese firm to meet the venture’s $13.6-million first cash call. Mitsubishi will also... 

South African govt safeguarding Implats as Zimbabwe indigenisation bites 

By: Martin Creamer     23rd March 2012 South African major Implats has struck a deal with Zimbabwe that assures the JSE-listed company of fair cash compensation, the prospect of continued unfettered expansion and the potential freedom of the once-empowered, always-empowered advantage, which has yet to become a South African reality. 

Impairments lead to $105.4m Q4 loss for Franco-Nevada

By: Matthew Hill     22nd March 2012 Franco-Nevada Corporation, the biggest gold royalty and streaming company, swung $105.4-million into the red for the fourth quarter, after the Toronto-based firm suffered $169.9-million in impairment charges. Stripping out the one-time charges, mainly related to the write down of First Uranium’s... 

Zimbabwe needs up to $1bn cash to compensate Implats fairly  

By: Martin Creamer     16th March 2012 The government of Zimbabwe will need between $500-million and $1-billion in hard cash to honour its commitment of paying South Africa’s Implats fair value for control of Zimplats, Mining Weekly Online can today report. Treaty protection under the South Africa-Zimbabwe bilateral agreement commits... 

Implats’ Zimbabwe compensation unlikely at market rate – Liberum

By: Martin Creamer     14th March 2012 South Africa’s platinum major Implats, which has reached an enforced in-principle agreement on indigenising 51% of its Zimplats assets, is unlikely to be compensated by the Zimbabwean government at the market rate, mining analyst Liberum Capital Mining said on Wednesday. Zimbabwe’s... 

Palladium prices could touch $1 000/oz in 'couple years' 

By: Matthew Hill     5th March 2012 Platinum prices should start to show weakness in the second half of the year as labour and electricity issues in South Africa, which produces over 70% of global supplies, ease, Thompson Reuters GFMS senior mining analyst William Tankard said on Sunday. A strike at the world’s biggest platinum... 

ANC document’s mining tax a worry – ARM’s Motsepe 

By: Martin Creamer     27th February 2012 The super tax proposed in the African National Congress’s (ANC’s) recent nationalisation-rejecting study is not good for mining, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe said on Monday. “You have to have a globally competitive mining dispensation,” Motsepe said at... 

African Rainbow Minerals earnings up 24%

By: Martin Creamer     27th February 2012 The half-year headline earnings of diversified miner African Rainbow Minerals (ARM) increased 24% to R1.94-billion in the six months to December 31. Cash generated from operations increased by 25% to R2.56 billion, compared with R2.05-billion for the same period in 2011. 

Country should be extremely concerned about Implats’ strike – Northam  

By: Martin Creamer     24th February 2012 South Africa should be extremely concerned about the strike at Implats, Northam Platinum CEO Glyn Lewis said at the weekend. Lewis was speaking in response to a question from the media on the potential of the strike spreading from Implats to Northam, after he had reported a strong set of... 

Northam lifts earnings 161%, advances big new project

By: Martin Creamer     24th February 2012 JSE-listed Northam Platinum, which is like a sea of tranquillity in Southern Africa’s current platinum storm, shot the lights out in the six months to December 31 with 161% higher earnings and improved production. 

Lesego mine, South Africa

By: Lisete Bigala     24th February 2012 A platinum-group metals mine located in South Africa. 

Stillwater Q4 trumps street view

By: Matthew Hill     21st February 2012 Stillwater Mining on Tuesday said fourth quarter profit rose 50% year-on-year to $24.7-million, as higher prices more than offset a drop in platinum and palladium prices. That translated into net earnings of $0.21 a share, well exceeding analyst expectations of $0.12 a share. 

Anglo reviewing stoppage-hit platinum business – Carroll 

By: Martin Creamer     17th February 2012 Diversified mining major Anglo American is embarking on a review of its platinum business, which has been wracked by government safety stoppages. Despite its platinum operating profit increasing to $890-million in the face of 81 safety stoppages, London analysts peppered Anglo American CEO... 

This has gone beyond a strike – Implats’ Gilmour 

By: Martin Creamer     16th February 2012 A higher level of security was needed at Impala Platinum’s strike-hit operations in Rustenburg to stop returning workers from being intimidated, Implats corporate relations executive Bob Gilmour said on Thursday. 

Platinum industry needs $1 900/oz – Amplats 

By: Martin Creamer     13th February 2012 A platinum price of more than $1 900/oz was required to provide producers with the incentive to invest the substantial capital required to maintain long-term production, Anglo American Platinum (Amplats) CEO Neville Nicolau said on Monday. 

Russia’s Norilsk reveals global production figures for 2011

By: Keith Campbell     10th February 2012 Russia’s biggest diversified mining group and the world’s number one producer of nickel and palladium, MMC Norilsk Nickel (Norilsk) has reported that the output of its African operations last year amounted to 15 161 t of nickel in concentrate, 11 730 t of copper in concentrate, 93 000 oz of... 

Heightened risk of platinum supply disruption – Lonmin 

By: Martin Creamer     8th February 2012 The risk of a disruption of the supply of platinum from South Africa had heightened, Lonmin CEO Ian Farmer said on Wednesday. Farmer told the Mining Indaba conference in Cape Town that, while supply disruption would have a marked impact because of platinum’s use in hitech consumer goods, there... 

Govt-enforced safety stoppages lacerate Amplats, Lonmin platinum production 

By: Martin Creamer     26th January 2012 Soaring government-enforced safety stoppages at South African platinum mines have lacerated the production performances of mining companies Anglo American Platinum (Amplats) and Lonmin, latest production reports indicate. Both companies say that they are discussing more appropriate safety... 

Double dose of surprise news tears strips off platinum behemoths

By: Martin Creamer     19th January 2012 Two consecutive days of surprise negative news this week tore strips off the share prices of South Africa’s two leading platinum mining companies. Anglo American Platinum (Amplats) lost 4% of its value on Thursday when it warned of a 60%-to-70% plunge in basic 2011 earnings per share, and... 

Norilsk board approves $3 bln investment plan

By: Reuters     29th December 2011 Russian metals group Norilsk Nickel said on Thursday its board had approved its budget for 2012, which envisages investing over $3-billion in its development. The budget approval is the first step in the realisation of the company's production and technical development strategy until 2025, it... 

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